Americans for Financial Reform Education Fund (AFREF) submitted comments to the Securities and Exchange Commission (SEC) on its proposed rescission of climate disclosure requirements for public companies. The SEC’s proposal ignores the overwhelming support from investors for climate disclosure, would leave retirement savers less well protected from climate risks, and incorrectly frames SEC disclosure authority as extremely narrow, contrary to statute and decades of caselaw and regulatory practice.
Along with 15 organizations, AFREF led a comment highlighting the Proposal’s inconsistency with statute and longstanding precedent regarding the SEC’s authority to require disclosures from public companies that further its mission to protect investors, promote fair and efficient markets, and facilitate capital formation. View or download a PDF of the letter here.
Along with 35 organizations, AFREF and Public Citizen submitted a comment highlighting the evidence that climate change presents a material financial risk for companies and investors, as well as the history of investor demand for such information, including near unanimous support for the SEC’s 2024 rule, and the role of the fossil fuel industry in pushing for this repeal. View or download a PDF of the letter here.